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14 Feb 2017 11:39
Edison Investment Research Limited / Key word(s): Research Update Edison issues outlook on Angle 14-Feb-2017 / 12:38 GMT/BST London, UK, 14 February 2017 Edison issues outlook on Angle (AGL) Angle's H117 business update revealed that R&D activities are progressing well, while the company booked further research use sales. The first prospective clinical studies with Angle's liquid biopsy system Parsortix in ovarian cancer reported positive early evaluation results and are due to report headline data in Q217. Our SOTP-based valuation is increased modestly to £140.3m or 188p/share. The main 2017 catalysts are the results from the ovarian cancer studies; an acceleration of research use sales; any new data from Angle's multiple KOLs and customers investigating Parsortix; and progress with the FDA analytical and clinical studies. We value Angle at £140.3m or 188p/share, up from £129.6m or 173p, as rolling our model forward was partially offset by the lower net cash position, while our long-term clinical use sales were revised upwards after positive early evaluation of ovarian cancer studies. The main catalysts in 2017 are full results from the ovarian cancer studies, expected pick-up of research use sales, any new data from Angle's KOLs and customers investigating Parsortix and progress with the FDA analytical and clinical studies.Click here to view the full report. All reports published by Edison are available to download free of charge from its websitewww.edisoninvestmentresearch.com About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. Contact details: Learn more at www.edisongroup.com and connect with Edison on:
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544391 14-Feb-2017
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